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reality, the sooner we can avoid the fiscal cliff. obama and his allies are less willing to look at these benefits programs after his election last month. >> yeah. >> stephanie: obama possesses far more leverage than he did in the budget talks with boner last year. here we go again, right. >> you act like you won or something. >> stephanie: okay. all right. rhone in chicago. >> caller: hi, stephanie. first time caller so i'm glad i get a chance to get in and talk with you. >> stephanie: okay. >> caller: so many things to talk about, but i wanted to talk about the extremism that i see in the republican party. for me i'm an infantry officer, a software engineer. i have gone from voting republican and i lose myself as moderate republican, and conservative democrat somewhere in that -- >> stephanie: in the nuggety center. >> caller: yeah. the way this election has gone it has turned me very much to the left. the way the republicans have acted, they are turned me off from their party all together. >> stephanie: we welcome you into the soft
reality, the sooner we can avoid the fiscal cliff. obama and his allies are less willing to look at these benefits programs after his election last month. >> yeah. >> stephanie: obama possesses far more leverage than he did in the budget talks with boner last year. here we go again, right. >> you act like you won or something. >> stephanie: okay. all right. rhone in chicago. >> caller: hi, stephanie. first time caller so i'm glad i get a chance to get in and talk...
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Dec 3, 2012
12/12
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the clinton era rates which america will return to in january unless the fiscal cliff is resolved. it brought more revenues than at any point in the 1980s. thank you. [ applause ] >> grover! >> stephanie: norquist and maria commented this is a different environment than the 1990s. grover said we got four years of bad regulation, higher taxes. he wants to add more taxes to the tea party too. it will starve tea party i if obama pushes us over the cliff. [ screaming ] >> can't just wait for tea party three. >> probably about 150 billion. >> stephanie: that would be bad. okay. oh, let's see. phillip in durham disagrees with everything i say. about everything? >> ever! >> stephanie: hi, phillip. >> caller: hi, stephanie. look. appreciate the show. i think you have not been fair to the facts and let me just ask you from the -- what we're talking about -- >> stephanie: the facts are oversensitive in my opinion. >> caller: that's why you're better as a comedian than a political pundit. >> stephanie: all right. >> caller: the fact of the matter is simply this. timothy geithner proposed a bu
the clinton era rates which america will return to in january unless the fiscal cliff is resolved. it brought more revenues than at any point in the 1980s. thank you. [ applause ] >> grover! >> stephanie: norquist and maria commented this is a different environment than the 1990s. grover said we got four years of bad regulation, higher taxes. he wants to add more taxes to the tea party too. it will starve tea party i if obama pushes us over the cliff. [ screaming ] >> can't...
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Nov 30, 2012
11/12
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in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell which have become increasingly commoditysed. just witness hideous performance of best buy. despite all these big perceived big picture, office max has been rallying like crazy. stock has run up 122% for year. and it's fallen from 4.26 from the beginning of august to nearly $10. right now where the stock is less than a point off its 52-week high. what the heck, right? five months ago this stock had been left for dead. but now somehow office max has managed to find new life and become a monster good performer. just when you expect the company to be take it on the chin. what the heck is real
in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell...
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Dec 7, 2012
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cliff. it's time for the president, if he's serious to come back to us with a counter offer. >> the president told a virginia family on thursday he won't back down on taxing the rich. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. >> the rebels gain on assad raising fears he might use chemical weapons. that was enough to frighten the russians into talking with hillary clinton about a political transition. >> the united states stands with the syrian people in insisting that any transition process re -- result in a unified democratic syria in which all citizens are represented. the future of this kind cannot possibly include assad. >> a tragic turn of events in london. the nurse that first transferred that prank call to duchess catherine is found dead. david axelrod shaves it all off on "morning joe." >> joe scarbor
cliff. it's time for the president, if he's serious to come back to us with a counter offer. >> the president told a virginia family on thursday he won't back down on taxing the rich. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. >> the rebels gain on assad raising fears he might use chemical...
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Dec 5, 2012
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't see. the president got 15 million americans to vote against him which fail to produce any type of meaningful budget in his democratic controlled snate. we are at the disco club because of the president's inability to ev a single-day tackle entitlement reform and take it seriously talk about tax reform instead of tax hike so i think the way to have honest good faith initiations is to come to the table closer together. lou: before we restructure negotiations that act have not taken place, the republican side of t
cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't...
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Nov 30, 2012
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. >>> up next the senate's top republican latches out loud as the white house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it i
. >>> up next the senate's top republican latches out loud as the white house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference....
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Nov 30, 2012
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and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation will play out right after the break. plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 1
and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation...
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cliff debate so let's bring sheila back in to talk more about these before we get into this i do want to ask what we were talking about when we're going into break and this idea you said there's so much confusion surrounding this barrister and acquisition and why that was even done that wasn't even during the crisis but this idea that j.p. morgan did the fed a favor even though it may not have been good for shareholders what does that say about the relationship between government or regulators and the big banks that the bank would do the fed a favor that maybe wasn't even good for shareholders. this is when i talk about this in the book you know the f.d.i.c deals with troubled banks that we ensure we have for decades we have very strict rules about this we discuss resolution and we don't put government money and we don't keep them up when we run them through a government controlled bankruptcy pretty sickly we go up for competitive bidding there are all sorts of special rules of modern procedures the company by this so it is that transactions always troubled me i've never understood we
cliff debate so let's bring sheila back in to talk more about these before we get into this i do want to ask what we were talking about when we're going into break and this idea you said there's so much confusion surrounding this barrister and acquisition and why that was even done that wasn't even during the crisis but this idea that j.p. morgan did the fed a favor even though it may not have been good for shareholders what does that say about the relationship between government or regulators...
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investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. euro stoxx 50 was down on the day. in new york, trading is still under way. it is also not really doing a whole lot today. as for the euro against the dollar, it is above that key $1.30 level, trading for $ 1.3002. unemployment in the eurozone climbed to yet another record in october. and 11.7% of the working age population, about 19 million people, are without a job. in spain, that means one in every four people are out looking for work and a dependent on state aid. >> but it is not all bad news. ireland has managed to turn its major recession around and is now posting gains thanks to a lifeline from the e you. >> two years ago, ireland receive more than 67 billion euros from the eu bailout fund, and the money appears to have helped. the government was able t
investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. euro stoxx 50 was down on the day. in new york, trading is still under way. it is also not really doing a whole lot today. as for the euro against the dollar, it is above that key $1.30 level, trading for $ 1.3002....
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Nov 29, 2012
11/12
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they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden bring by the apple pie? >> they may save that for a celebration if hay get a deal. >> all right, ed. thank you. >> major retailers are reporting weaker than expected holiday sales so far. november receipts are 1.7% over last year. that is well below the 4.5 to 5.5 predicted for holiday season. the economy grew at 2.7% in the third quarter better than the figure announced. the dow was up 37. the s&p 500 gained six. nasdaq finished ahead 20. syrian rebels struck a major blow in the heart of the government today killing a top ruling of the party in a car bombing and someone is cutting off internet and cell phone commu
they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden...
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what's on the table related to the fiscal cliff is a proposal to create a cap on deductions, all kinds of deductions. the charitable deduction with interest rates soared over deductions people can take. with they do it at 17,000 or 22,000 or even a much higher number like 35,000, the problem the we see is that with those of the deductions people will take things because they benefit themselves. in the case of the charitable deduction, they are going to put out money in order to get a deduction. if someone gives a thousand dollars the market $350. if they lose that incentive there are only going to give 650 to begin with. it'll lose anything. the organization that served the people in our society in communities of the ones hat will have to cut back on their staff and will have to cut back. gerri: you know, what is confusing to me is if you take away this deduction, then he steps in? to haae to rely on government to step in? will the government run these programs? where does that money come from? >> we all know the answer to that. >> yes. we all know the answer to that. we know that the
what's on the table related to the fiscal cliff is a proposal to create a cap on deductions, all kinds of deductions. the charitable deduction with interest rates soared over deductions people can take. with they do it at 17,000 or 22,000 or even a much higher number like 35,000, the problem the we see is that with those of the deductions people will take things because they benefit themselves. in the case of the charitable deduction, they are going to put out money in order to get a deduction....
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Dec 4, 2012
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i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military installations. 5 colleges and universities. 11 indian tribes. the best college football team in america. it is a very special place. i would argue with your statistics. i just won reelection with 68% of the vote. having said all that, the idea that the paul ryan budget is about getting rid of social programs is ntot so. it is about saving them. these programs are going bankrupt. all are going to have to be reformed. if the president gets every tax increase he is asking for, let's just assume that he did, it would not come close to solving the budgetar
i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military...
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Dec 7, 2012
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cliff. tonight maryland's senator ben cardin joins me for some perspective from the other side of the river. senator, we're so glad to have you. >> my pleasure. >> we are in the midst of a stalemate, the president holding onto the idea of raising rates, the congress dominated by the mouse republicans saying we want to -- house republicans saying we want to close loopholes. where are you on this and why not have a combination of the two? >> it seems like both sides agree revenues have to be an important side of the equation and that's true. the easiest way to get revenue is through the rates. the senate passed this bill. it's in the house that allows tax relief for up to $250 to become law. that gives predictability and confidence and we can then have the revenue from the higher income to help deal with the fiscal cliff. the problem with closing loopholes is it's difficult to get anywhere near the type of revenue you can get from the rates on the higher income. >> fair enough. now if there is
cliff. tonight maryland's senator ben cardin joins me for some perspective from the other side of the river. senator, we're so glad to have you. >> my pleasure. >> we are in the midst of a stalemate, the president holding onto the idea of raising rates, the congress dominated by the mouse republicans saying we want to -- house republicans saying we want to close loopholes. where are you on this and why not have a combination of the two? >> it seems like both sides agree...
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Dec 6, 2012
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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just hours ago, house republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts, apparently the white house is unimpressed with the proposal by the speakert and white house republicans? >> i think the white house needs to do case studies, calvin coolidge and president john f. kennedy, when you look at what they did with lowering tax rates and increase revenues. calvin coolidge went from 73% to 24%. john f. kennedy from 91% to 71%. they increased revenues. we are not talking about what the president is looking at with his wealth redistribution, we are talking about wealth expansion, economic growth and sound policies to do that. if you want to continue to believe that $250,000 makes someone ri
just hours ago, house republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts,...
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rate at nearly 52%. >>> forbes is out with the 2012 most powerful people list. president obama held on to the top spot for a second year. the pope climbed two notches from last year. he is in fifth place. facebook's ceo mark zuckerburg went to number 25. former president clinton held on to number 50. and tonight be sure to watch brian williams sit down with tim cook. by the way, he's number 35 on the forbes list. >> finally, no, this is no joke. pizza hut in canada sent more than 100 bottles of pizza cented perfume to facebook fans. the fragrance boasts freshly baked hand tossed dough. >>> some optimistic news in the fight against breast cancer. women who took the common estrogen blocking drug tamoxofin cut the chance of getting breast cancer in half. >>> coming up, corey booker lives on food stamps. the nfl steps in with a million dollars for jovan belcher's orphan daughter and high resolution images of your planet earth from space. the new technology uses filtering techniques that allows the images such as city lights, gas flares, auroras, wildfires and reflec
rate at nearly 52%. >>> forbes is out with the 2012 most powerful people list. president obama held on to the top spot for a second year. the pope climbed two notches from last year. he is in fifth place. facebook's ceo mark zuckerburg went to number 25. former president clinton held on to number 50. and tonight be sure to watch brian williams sit down with tim cook. by the way, he's number 35 on the forbes list. >> finally, no, this is no joke. pizza hut in canada sent more than...
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Nov 29, 2012
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one of the thorniest elements of the so-called fiscal cliff. host: that's the lead story this morning in the "wall street journal." marisa is a democrat in montana. marisa, good morning to you. the g.o.p. says address the spending problem. what do you think? caller: oh, thank you so much for taking my call. i'm so grateful and so grateful for c-span. let's never forget the dark days of the bush administration when dan rather got fired and no one would talk about anything. this open dialogue, which does lead to solution of problems. i'm so grateful, thank you c-span. i would like to say that i can remember at the very beginning of the bush administration when those democratic congressmen got up and said if we do this we're going to have these dire financial problems. sure enough we did. and then it's the bush's administration lack of leadership that has brought us into all these gigantic problems like the b.p. oil spill, due to lack of oversight. so thank you so much, we can solve our problems, there is such a thing as a possiblist, possibility,
one of the thorniest elements of the so-called fiscal cliff. host: that's the lead story this morning in the "wall street journal." marisa is a democrat in montana. marisa, good morning to you. the g.o.p. says address the spending problem. what do you think? caller: oh, thank you so much for taking my call. i'm so grateful and so grateful for c-span. let's never forget the dark days of the bush administration when dan rather got fired and no one would talk about anything. this open...
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Nov 30, 2012
11/12
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FBC
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before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with washington d.c. they don't solve anything until it comes to the last minute and all that uncertainty creates a lot of volatility in the market and we're seeing that more and more and will continue to see that for the next 30 days. liz: you to in this out and listen with one ear because you have been long-term bullish. how do you proceed when there is this echo chamber out of washington d.c. about the fiscal cliff? >> what you need to realize is regardless of where they end up, they have reduced standing and high taxes. you get a lot of noise. what i am see
before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with...
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>> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and the proposal that we sent to the president deserves a response. >> repor
>> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a...
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fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundta
fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that...
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some economists actually call this the fiscal float instead of the cliff because the impact would be felt gradually. however, "the wall street journal" reports others sharply disagree. they argue that quickly undoing the damage double from the cliff dive would have big consequences. some possible ways here. it could prompt sell-offs on wall street. we've already seen those. it could also further dampen consumer confidence in washington. we saw that during the debate last year over raising the federal debt ceiling. >>> looking overseas, it's interesting to get a read on how other countries are perceiving the fiscal cliff fight on capitol hill. the"the washington post" ran through head lines in international papers. the gist of the coverage, china thinks the bickering in the u.s. is irresponsible. the people's daily says especially coming from a country that often tells other nations to be responsible. of course that's a big mouth piece for the communist party, that particular newspaper. heading across the pond to our friends in the uk, the financial times is blaming the g.o.p. for the
some economists actually call this the fiscal float instead of the cliff because the impact would be felt gradually. however, "the wall street journal" reports others sharply disagree. they argue that quickly undoing the damage double from the cliff dive would have big consequences. some possible ways here. it could prompt sell-offs on wall street. we've already seen those. it could also further dampen consumer confidence in washington. we saw that during the debate last year over...
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. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to avoid that fiscal cliff. >> reporter: yes, the president and malia obama with sasha and first lady michelle leading a chorus of santa claus is coming to town. >> one. >> reporter: the ceremony of music and lights as the national christmas tree comes to life. >> i'm so excited for christmas. i can feel christmas already now. >> reporter: but the holiday cheer, the spectacle of this illuminating tradition tempered by thoughts of the looming fiscal cliff. >> he's making us wait a little bit. >> reporter: this is 6-month- old evan nicolsky. his father neil works for the department of agriculture. >> w
. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to...
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fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always politica
fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the...
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>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> welcome back, everybody. we've been watching the futures, they are mixed, dow slightly higher but you can also see futures are lower for the s&p and the nasdaq. in our headlines apple and samsung are back in court in a high profile patent case. samsung is seeking to overturn an august verdict that found it guilty of infringing patents and ordered it to pay apple $1 billion. ap
>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the...
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cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> and this ongoing political game of chicken is something one of the chairmen of the debt commission simply calls madness. >> when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. >> willing to go over the cliff, i guess they are but they also don't believe republicans are going to go over the cliff. >> he can win politically but the costs, doesn't you agree, would be tremendous not only to him but to the economy and to our country. >> and we want to bring in and say good morning to congresswoman diane black, a republican from tennessee, a member of the house budget and ways and means
cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> and this ongoing political game of chicken is something one of the chairmen of the debt commission simply calls madness. >> when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the...
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but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on both sides you have liberals and conservatives, newt gingrich making the case this whole cliff thing was a creation of the other side. you have a group denying this central debate is really worth having right now. none of this feels we're inching towards a deal. >> looking backwards instead of forward. >>> for waterlogged californians this is the calm between the storm. much of the state has been battered by two storms that brought torrential rains, mudslides and flash flooding and storm number three is on its way. carter evans has the latest. >> reporter: as the powerful winter storm moved across the west nevad
but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on...
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cliff, six out of ten voters in november said the tax rates should go up, how much longer can he afford to politically keep this pledge and he said look, you heard it there, the rates when we close the revenues, loopholes will go up on the rich people. that still is the mindset. what's interesting, is talking to republicans leaving the house conference gop conference this morning, there is a lot of support for speaker boehner. there aren't cracks like there were during the debt limit where he had a faction that was lining up against him wholeheartedly. even after yesterday we heard all the stuff of fallout from the conservative right against his position, that conference this morning was pretty supportive of speaker boehner and seem to be -- say something we say way too often here in washington, d.c., doubling down on the speaker's approach, at least here in early december. >> everyone seems to be doubling down, luke. i mean the idea that now nobodies's moving at all. i thought it was interesting that boehner is adopting the rhetoric kind of fairness saying we're going to -- won't say t
cliff, six out of ten voters in november said the tax rates should go up, how much longer can he afford to politically keep this pledge and he said look, you heard it there, the rates when we close the revenues, loopholes will go up on the rich people. that still is the mindset. what's interesting, is talking to republicans leaving the house conference gop conference this morning, there is a lot of support for speaker boehner. there aren't cracks like there were during the debt limit where he...
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hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think fran
hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a...
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cliff while stepping out for a night of glamour. the democrat from san francisco stroll photographers last night at the kennedy center honors in washington, d.c.. she told reporters it would be a wonderful christmas gift to the american people to have a tax cut come january. the annual gala event at the kennedy center honored entertainment greats. they received the nation's highest ward for influencing culture through art. >> a little bit of talent in that room, i think. >> i know you wanted to be there. >> i would have loved it. 6:18 i am >>> let's talk about -- dryness, for a while, going to be and today, tomorrow this time, rain up in the north bay, wednesday at this time, definitely rain around all of our neighborhoods once again. good morning. looking down from mount tamalpais you can see some of the fog in the foreground that's what is hugging 101 from novato towards petaluma in the background high clouds keeping fox keeping fog from forming in other areas. look at live doppler, a sight for sore eyes, wet eyes or hands or any
cliff while stepping out for a night of glamour. the democrat from san francisco stroll photographers last night at the kennedy center honors in washington, d.c.. she told reporters it would be a wonderful christmas gift to the american people to have a tax cut come january. the annual gala event at the kennedy center honored entertainment greats. they received the nation's highest ward for influencing culture through art. >> a little bit of talent in that room, i think. >> i know...
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growth numbers are stronger, they might be stronger only because they're heading off the fiscal cliff. there's still more fiscal tightening to do. >> i'm just trying to get a reasonable trip to greece here. you're con founding my hopes. but thanks very much for stopping by. and i had dree adrian reminding us that the 1.30 level may be around to stay. >>> coming up a little later, what toys will kids be badgering parents for this christmas? beccy and geoff visited the fair to find out. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> welcome back. japan has finally gotten a bit of a reprieve. here are the details from korea. >> a raft of economic data out, some of it surprising toward the up side. industrial output recovering to 1.8% versus expectations of a fall of 2.2%. things are not looking so upbeat elsewhere. jobless rate coming in at 4.2% in line with expectations. closely
growth numbers are stronger, they might be stronger only because they're heading off the fiscal cliff. there's still more fiscal tightening to do. >> i'm just trying to get a reasonable trip to greece here. you're con founding my hopes. but thanks very much for stopping by. and i had dree adrian reminding us that the 1.30 level may be around to stay. >>> coming up a little later, what toys will kids be badgering parents for this christmas? beccy and geoff visited the fair to find...
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we are going to be talking about the fiscal cliff, the statements the house speaker made about being a stalemate and what the president said during his trip to a toy factory in pennsylvania. here are the numbers. you can also reach out to us by e-mail and twitter and facebook, all of the social media as. on twitter the addresses @cspanwj, facebook.com/cspan. more from the article by jake sherman with the headline " fiscal cliff." he writes -- let's go to the phones. the first call comes from debbie in flint, mich. on the line for democrats. caller: i think they need to pass a law that these guys did not get paid. if i go to work and did not do my job, they will not pay me. they have not done their jobs in the years. they need to listen to the american people. we picked barack obama up for a reason because we like his policies. they need to get a clue. they are already struggling and having a hard time. if they do not get a clue, they will not be back there. host: republicans say the president and democrats are not making any good-faith offers, the same thing democrats say about repub
we are going to be talking about the fiscal cliff, the statements the house speaker made about being a stalemate and what the president said during his trip to a toy factory in pennsylvania. here are the numbers. you can also reach out to us by e-mail and twitter and facebook, all of the social media as. on twitter the addresses @cspanwj, facebook.com/cspan. more from the article by jake sherman with the headline " fiscal cliff." he writes -- let's go to the phones. the first call...
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cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the tax cuts expiring at the end of the year and the question is do we have to go over that cliff before a deal can be struck or not. >> we asked you yesterday whether or not progress was taking place at least on the staff level. you said there were differing opinions. has the needle moved on that front? >> well, the movement of the needle was that yesterday the staff resumed conversations after a little hiatus over several days before that, so that is a progress in and of itself that they're talking, but there's no indication that those conversations ha
cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the...
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. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some places snow getting up to around 2, 3 feet, but that is high elevation. but for the eastern seaboard, pretty quiet p. temperatures very mild this time of year. when you get into the center of the u.s., still fairly mild conditions. a bit cooler as you might imagine in spots up like towards the twin cities and even over towards chicago. but then out west, that's where the trouble really brews. it's that time of year that there's norm lay big area of high pressure that sets up off the west coast. that's gone and that allows all the pacific moisture to come through. high snow will be an issue. rain in seattle. so how is i
. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some...
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as for fiscal cliff fears would keep businesses from around the country from hiring that does not seem to be the case. either more than half of the jobs added last month came in retail and health care. the jobs were lost in construction and manufacturing. we're working now to get reaction from the white house and members of congress and hope to have that for you during my next update. reporting live from washington, d.c. alison burns. >>> time now 6:17. another story about controversial comedian katt williams. he has more legal problems after announcing he has unreported. an arrest warrant has been issued for katt williams. chp claims williams almost ran down five people when he drove his motorcycle on to a sidewalk. katt williams also failed to show up at an arraignment in seattle to face charges he hit a man with microphone and threw chairs at fans. despite all the controversy williams managers say he's not retiring and will continue with his nation-wide tour. >>> police in mill valley have arrested a manager of an assisted living facility on suspicion of fraud, identity theft, and f
as for fiscal cliff fears would keep businesses from around the country from hiring that does not seem to be the case. either more than half of the jobs added last month came in retail and health care. the jobs were lost in construction and manufacturing. we're working now to get reaction from the white house and members of congress and hope to have that for you during my next update. reporting live from washington, d.c. alison burns. >>> time now 6:17. another story about...
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we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least.
we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of...